The time to strengthen German-African trade and investment connections has never been greater. Six of the world’s 10 fastest growing economies are in Africa, which boasts a large and growing middle class that appeals to German investment. Germany is a global economic power – the world’s third largest exporter and a proven leader in technology and industrialization. Conversely, Africa is projected to be the world’s fastest growing region until 2040 amidst an era of increased prosperity, and is drawing unprecedented investment and attention. Unlike China and the United States, however, Germany has been slower to recognize the tremendous business potential in Africa. German trade with the continent stands at $60 billion each year compared to $200 billion for China, which expects to double that figure by the end of this decade.
Almost 90 percent of Germany’s foreign direct investments to Africa are focused on South Africa, Algeria and Nigeria. As Germany’s economic growth stagnates and its trade surplus narrows, increasing its collaboration with Africa will introduce its companies to dynamic new markets bolstered by an emerging middle class, rising consumerism and steady GDP growth. Meanwhile, enhancing their ties with Germany will present African countries and companies with new sources of capital, globally recognized brands and world-leading technologies and expertise.
This is a critical moment for the political and business leaders of Germany and Africa to increase their engagement and exploit mutually beneficial areas of interest. Through keynote presentations, strategic briefings, panel discussions and market spotlights, the Germany-Africa Business Forum creates the ultimatum platform for enhancing trade and investment between both sides and fostering long-term relationships.